NETHERLANDS – Inter Ikea Group has agreed to acquire Ikea retail operations in Estonia, Latvia, and Lithuania, including three full-size stores, five smaller customer points, e-commerce, and Digital Retail Development.

The deal, subject to regulatory approval, is set to complete by end of 2024.

Jon Abrahamsson Ring, CEO of Inter Ikea Group, stated, “This acquisition connects the entire Ikea value chain in the Baltics, enhancing our ability to develop the Ikea concept and create value for customers.”

Ikea’s Baltic operations, employing 1,450 people, had 6.6 million visitors in 2023.

“After over 12 successful years we are delighted to hand the operations over to our long-time business partner, Inter Ikea Systems B.V. There are exciting times ahead with numerous opportunities to grow and strengthen the Ikea brand in the Baltics. At this juncture, we want to thank our outstanding co-workers for their valuable contribution and dedication during our Baltic journey. We wish the new owner success and continued prosperity in the Baltics”, says Sigurður Gísli Pálmason, Chairman of Hof ehf, owner of the Ikea Baltics.